EUR/USD revisits daily lows

EUR/USD failed to stage a decent recovery and remain stuck in a range near daily lows, following speeches from both central bank’s (ECB and Fed) heads as anxiety grows before the UK referendum.

EUR/USD was unable to above the 1.13 mark and slid to a 4-day low of 1.1242 at the beginning of the New York session, but found support and was confined to a phase of consolidation. At time of writing, EUR/USD is trading at 1.1255, down 0.50% on the day.

Both central bankers kept a cautious approach on monetary policy ahead of the UK referendum on EU membership. ECB President Draghi didn’t ruled out further easing, while Fed’s Yellen said she will like to see further improvement before another hike. They also addressed a possible Brexit. Yellen said the effects are unclear and that the Fed would rely on existing tools. Draghi on his side said that they are ready for all the contingencies that may arise from a Brexit.

EUR/USD levels to watch

As for technical levels, EUR/USD could find next resistances at 1.1349 (Jun 21 high), 1.1382 (Jun 20 high), 1.1415 (Jun 9 high), 1.1445 (May 11 high) and 1.1478 (May 6 high). On the other hand, supports are seen at 1.1297 (50-day SMA), 1.1230 (100-day SMA) and 1.1130 (Jun 16 low) ahead of 1.1103 (200-day SMA).